Brampton Brick Limited Acknowledges BBL Acquisitions Inc.'s Intention to Make Cash Offer for All Class A Subordinate Voting Shares
BRAMPTON, ON, Nov. 26, 2020 /CNW/ - Brampton Brick Limited (the "Company") (TSX: BBL.A) announced today that it is aware of the news release of BBL Acquisitions Inc. (the "Offeror") stating that the Offeror intends to make an all cash offer for all of the outstanding Class A Subordinate Voting Shares of the Company (each a "Class A Share") (other than the Class A Shares beneficially owned or over which control or direction is exercised by the Offeror or its affiliates) on the basis of $12.00 per Class A Share (the "Proposed Offer").
The board of directors of the Company (the "Board") has established a special committee (the "Special Committee") comprised of John Piecuch (Chair), David Grant and Kenneth Tanenbaum, each an independent member of the Board, to evaluate the Proposed Offer and to consider any available alternatives. No member of the Special Committee is an interested party in respect of the Proposed Offer, as such term is defined in Multilateral Instrument 61-101 ? Protection of Minority Security Holders in Special Transactions.
The Special Committee has appointed McMillan LLP and Farber Corporate Finance Inc. as, respectively, independent legal and financial advisors to assist the Special Committee in carrying out its mandate. The Special Committee will communicate with shareholders upon the occurrence of any material development relating to the Proposed Offer.
Forward-Looking Statements
This news release contains forward-looking statements. Forward-looking statements can be identified by the use of words such as, "expects", "is expected", "intends", "believes", or variations of such words and phrases or state that certain actions, events or results "may" or "will" be taken, occur or be achieved. Forward-looking statements in this news release include, without limitation, statements with respect to the Proposed Offer and the terms thereof and the timing of future communications regarding material developments related to the Proposed Offer. The forward-looking statements in this news release are necessarily based on assumptions of the Special Committee, including, without limitation, assumptions with respect to the Offeror's ability and willingness to make the Proposed Offer substantially on the terms previously disclosed. Forward-looking statements are based on opinions and estimates of the Special Committee as at the date that such statements are made and are subject to a variety of risks, uncertainties and other factors that could cause actual events or results to differ materially from those projected. Accordingly, readers should not place undue reliance on the forward-looking statements contained herein. Except as required by law, neither the Company nor the Special Committee undertakes any obligation to publicly update any forward-looking statement contained herein, whether as a result of new information, future events or otherwise.
SOURCE Brampton Brick Limited
News published on and distributed by:
